Strategic Marketing Planning Week 2 Dr. Ananda Sabil Hussein.

Strategic Marketing PlanningWeek 2Dr. Ananda Sabil Hussein

What is a Marketing Plan?

• “…a written document that provides the blueprint or outline of the organization’s marketing activities, including the implementation, evaluation, and control of those activities.”

Strategic planning process

Mission vs Vision

Elements of the Mission StatementFive basic questions to be answered:

Who are we?Who are our customers?What is our operating philosophy?What are our core competencies or

competitive advantages?What are our concerns and interests

related to our employees, our community, society in general and our environment?

Mission vs Vision

Mission width and stability

Customer-focused mission statement

Mission : Intel corporation : Do a great job for our

customers, employees and stckholders by being the preminent building block supplier to the computing industry

Southwest airline: Dedication to the highest quality customer service delivered with a sense of warmth, friendliness, individual pride and company spirit

Corporate or Business Strategy

Business-Unit Strategy: The central means for:

Utilizing and integrating the organization’s resources Carrying out the organization’s mission Achieving the organization’s desired goals and

objectives Associated with developing a competitive

advantage Determines the nature and future direction of

each business unit Essentially the same as corporate strategy in

small businesses

Fuctional Goals and Objectives

All business functions must support the organization’s mission and goals.

Functional objectives should be expressed in clear, simple terms.

All functional objectives should be reconsidered for each planning period

Functional Strategy

Functional strategies are designed to integrate efforts focused on achieving the area’s stated objectives.

The strategy must: (1) Fit the needs and purposes of the functional

area (2) Be realistic with the organization’s resources

and environment

(3) Be consistent with the organization’s mission

goals, and objectives.

The effects of each functional strategy must be evaluated.

Implementation

Involves activities that execute the functional strategy.

Functional plans have two target markets:(1) External market(2) Internal market

A company must rely on its internal market for a functional strategy to be implemented successfully.

Evaluation and Control

Designed to keep activities on target with goals and objectives

Coordination among functional areas is a critical issue Open lines of communication is the key

Evaluation and control is both an ending and beginning: Occurs after a strategy has been implemented Serves as the beginning point for planning in

the next cycle

Marketing Plan

Detailed formulation of the actions needed to carry out the marketing program

An action document:The handbook for marketing

implementation, evaluation and control

Not the same as a business plan

Requires a great deal of information from many different sources

Marketing Plan

A good marketing plan outline is:ComprehensiveFlexibleConsistentLogical